SEOUL, March 13 (Korea Bizwire) – Hyundai Samho Heavy Industries Co., a mid-sized shipbuilder here, recently sold a semisubmersible rig obtained from a Norwegian shipping firm through a compromise arrangement, for US$370 million, industry sources said Monday. According to the sources, Hyundai Samho sought arbitration over Seadrill’s cancellation of the rig order, and both sides [...]
SEOUL, March 13 (Korea Bizwire) – Cash-strapped Daewoo Shipbuilding & Marine Engineering Co., a major shipyard in South Korea, is accelerating its move to sell its non-core assets to beef up its financial status amid concerns over a sharp fall in new orders, industry sources said Monday. According to the sources, Daewoo Shipbuilding has recently [...]
SEOUL, March 8 (Korea Bizwire) – South Korean shipyards stood at third place in terms of new orders secured last month, from the top slot the previous month, industry data showed on Wednesday. According to the data compiled by global research firm Clarkson Research Institute, Korean shipyards clinched new orders worth a combined 160,000 compensated [...]
SEOUL, March 3 (Korea Bizwire) – Hyundai Heavy Industries Co., a major shipyard here, traded at a 52-week high on Friday on simmering expectations that the shipbuilding sector is on a recovery track and its plan to spin off non-shipbuilding businesses may boost its competitiveness. Hyundai Heavy closed at 167,500 won (US$146) on the Seoul [...]
SEOUL, March 2 (Korea Bizwire) – Daewoo Shipbuilding & Marine Engineering Co., a major shipbuilder here, said Thursday that it has clinched a 414 billion won (US$363 million) deal to build two liquefied natural gas (LNG) carriers. Under the deal with an unidentified customer, Daewoo Shipbuilding will deliver the vessels by August 2019, the company [...]
SEOUL, March 2 (Korea Bizwire) – An expected rise in demand for liquefied natural gas (LNG) is likely to boost demand for LNG carriers, which in turn will help South Korean shipbuilders clinch more LNG ships and related facilities, industry sources said Thursday. Earlier, Royal Dutch Shell, a global oil and gas firm, has said [...]
SEOUL, Feb. 21 (Korea Bizwire) – Hyundai Heavy Industries Co., a major shipyard in South Korea, has received an order to build two oil tankers, industry sources said Tuesday. Under the deal with a Greek shipowner, Hyundai Heavy will build two very large crude carriers (VLCC) with 320,000 DWT by the end of 2018, the [...]
SEOUL, Feb. 9 (Korea Bizwire) – Daewoo Shipbuilding & Marine Engineering Co., a major shipyard in South Korea, said Thursday that it has signed a letter of intent with a U.S. firm to build up to seven floating storage and regasification units (FSRUs). Under the deal with Excelerate Energy, Daewoo Shipbuilding will receive an order [...]
SEOUL, Jan. 31 (Korea Bizwire) – South Korea’s IT industry is expected to bask in robust business performance this year, while automakers and shipbuilders face tougher conditions, a report showed Tuesday. According to the report compiled by the Korea Chamber of Commerce and Industry (KCCI), most sectors are faced with uncertainties at home and abroad, [...]
SEJONG, Jan. 25 (Korea Bizwire) – South Korea will accelerate its corporate restructuring drive in shaky industries like shipbuilding and steelmaking in 2017 in a bid to gain a foothold for the future industrial revolution, the government said Wednesday. At a ministerial-level meeting in Seoul chaired by Finance Minister Yoo Il-ho, the government reviewed action [...]